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Deemed disposition (also called a “deemed sale”)

The hypothetical transfer of property by an individual or trust, as a result of certain events provided for by law, whereby the individual or trust is considered to have actually disposed of the property.

A deemed disposition can occur if, for example:

  • a debt is determined to be a bad debt;
  • there is a change in the use of property;
  • property is expropriated, damaged, stolen, destroyed, etc.;
  • a person leaves Canada;
  • a person who owns property dies.
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